GERMAN lender Deutsche Bank announced on Wednesday a series of new hires to its wealth management unit in Singapore to support its growth strategy in Asia, including six relationship managers from rival firms to cover clients in South-east Asia.
The first team of four, led by Jonathan Ng, joined Deutsche Bank Wealth Management from BNP Paribas Wealth Management Singapore. Mr Ng reports to Kwong Kin-Mun, head of wealth management coverage for South-east Asia.
The second team of two, led by Gregory Goh, joined Deutsche Bank WM from Nomura Singapore. Mr Goh reports to Malcolm Tay, group head, South-east Asia for wealth management.
Earlier this year, Lok Yim, head of Deutsche Bank WM, Asia-Pacific, announced the bank's plans to invest in talent and technology in the region. Half of a total of 100 client-facing employees to be hired globally will be based in the Asia-Pacific.
Deutsche Bank WM said it has already made more than 50 new hires in Hong Kong, Singapore and Dubai across client coverage, IT, Know-Your-Client, project management, operations and product platforms.
The business will also invest around 65 million euros (S$103 million) globally to enhance client-focused digital technology.